Common use of Adjustments and Reconciliation Clause in Contracts

Adjustments and Reconciliation. To the extent that the actual value of any item included in an invoice cannot be accurately determined at the time of submission of the invoice, such item shall be invoiced on an estimated basis and an adjustment shall be made to reflect the difference between such estimated amount and the actual amount of such item on the next invoice after determination of the actual amount. Prior to final acceptance of the Project, the designated county representative shall provide City with a reconciliation of all costs for the Project and the respective contributions of the Parties for the review and approval of the Parties.

Adjustments and Reconciliation. To the extent that the actual value of any item included in an invoice cannot be accurately determined at the time of submission of the invoice, such item shall be invoiced on an estimated basis and an adjustment shall be made to reflect the difference between such estimated amount and the actual amount of such item on the next invoice after determination of the actual amount. Prior to final acceptance of the Project, the designated county representative County Representative shall provide the City Representative with a reconciliation of all costs for the Project and the respective contributions of the Parties for the review and approval of the Parties.